2023-04-19 11:30:05
(Updated with index futures, results from Morgan Stanley, Western Alliance, Travelers, market leading prices from technology groups and regional banks)
PARIS, April 19 (Archyde.com) – Top stocks to watch on Wednesday on Wall Street, where index futures suggest an opening down 0.35% for the Dow Jones
.DJI , 0.55% for the Standard & Poor’s 500 .SPX and 0.77% for the Nasdaq .IXIC:
* MORGAN STANLEY MS.N reported lower first-quarter profit on Wednesday as its core investment banking business continued to come under pressure amid a continued decline in M&A deals. The action fell 2% before the market.
* NETFLIX NFLX.O on Tuesday published results for the January-March period in line with Wall Street expectations but with fewer new subscribers than expected, and reported disappointing forecasts for the current quarter. The action fell 1.6% in pre-market trading.
* TESLA TSLA.O lost 2.2% in pre-market following lowering the prices of some of its Model Y and Model 3 electric vehicles in the United States, raising fears regarding the manufacturer’s profit margins.
* WESTERN ALLIANCE BANCORP WAL.N climbed 15.5% in market preview following the regional bank reported quarterly profit above expectations and a stabilization of its deposits following last month’s banking crisis . Its competitors FIRST REPUBLIC BANK FRC.N, ZIONS BANCORPORATION ZION.O and PACWEST BANCORP PACW.O gained 1.1 to 4.1% ahead of the stock market.
* Technology groups, APPLE AAPL.O, MICROSOFT
MSFT.O , ALPHABET GOOGL.O and META PLATFORMS META.O , sensitive to fluctuations in interest rates, yielded 0.6% to 1.5% on the forefront while the yield of two-year Treasuries US2YT =RR hit a one-month high at 4.29%.
* UNITED AIRLINES UAL.O posted second-quarter profit and maintained its full-year profit target due to “strong” demand, particularly for international travel. The action took 0.6% before the market.
* ABBOTT LABORATORIES ABT.N posted better-than-expected quarterly earnings on Wednesday, boosted by sales of its diabetes treatment devices and improving demand for its other medical equipment. The action rose 2% in pre-market.
* BAKER HUGHES BKR.O – The oil services group on Wednesday reported better-than-expected first-quarter profit on rising demand for its services from concerned oil and natural gas producers. to take advantage of a recovery in China and high prices.
* The insurance group TRAVELERS TRV.N announced Wednesday a drop in its quarterly profit, due to the violent windstorms and hailstorms which fell on certain regions of the United States in March.
* FOX FOXA.O and Fox News are to pay Dominion $787.5 million to avoid a libel lawsuit following claiming without evidence that the voting machine maker participated in alleged fraud in the U.S. presidential election in 2020.
(Laetitia Volga and Claude Chendjou, edited by Blandine Hénault and Bertrand Boucey)
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